Muhammad Aurangzeb to ‘host’ Iftar dinner for IMF delegation

ISLAMABAD: Finance Minister Muhammad Aurangzeb will ‘host’ an Iftar dinner for International Monetary Fund (IMF) delegation today (Thursday), ARY News reported, citing well-informed sources.

IMF delegation is currently in Pakistan for review talks as Islamabad is looking to unlock $1 billion under an ongoing loan programme.

As per details, the IMF delegation will be given a dinner reception at a private hotel in Islamabad at 6pm today. The dinner will also be attended by the officials of the Finance Ministry.

Pakistan and IMF will hold third and final round of talks tomorrow, the sources said.

Read more: Pakistan convinces IMF to slash power tariff: sources

Earlier, sources claimed that Pakistan has convinced the International Monetary Fund to slash the electricity rate by two rupees per unit.

The officials held a lengthy session of talks with the IMF team to cut the electricity tariff by 1.5 to two rupees per unit, according to sources.

“Final decision to slash basic tariff of electricity will be held in the next month”. According to sources, the IMF has in principle approved cut in the basic tariff of electricity.

“Pakistan has to submit a comprehensive privatization plan of distribution companies (Discos) to slash the power tariff,” sources shared.

The International Monetary Fund has been dissatisfied with the performance of Discos and expressed concern over losses of the power distribution companies.